The Average Cost of a Wedding & Expert Tips to Pay For It

September 7, 2022

Getting ready to tie the knot? Congrats!

According to the Knot, the approximate average for couples' 2021 receptions across the US is roughly $22,500. Arkansas is barely below that average at $21,800. That’s A LOT of money! Most Americans don’t have that type of disposable cash sitting around waiting to be spent on a celebration of love, but that doesn’t mean they shouldn’t be allowed to experience the wedding of their dreams. 

We here at Chambers want to be a part of your love story, so we gathered up some of our experts' best tips for paying for a wedding. 


Set Tangible Savings Goals

The best thing you can do when saving for a wedding is set tangible goals, broken down on a monthly basis. For example: If you want to save $20,000 and you’re getting married in a year, you will need to save about $1,700 per month (divide $20,000 by 12 months). 

Once you know what you need to save, you can start creating tactics to reach these goals, like:

  • Cutting back on extraneous spending or things that are considered luxuries (i.e. eating lunch out every day)
  • Deciding where you can sacrifice. Goodbye, Netflix?
  • Getting a side gig, creating and selling goods, or even ridesharing.

Pro Tip: Set up a joint savings account so you can both watch your wedding fund grow and share in the excitement–and responsibility. Plus, it’s a lot safer than a wad of hundred dollar bills in your sock drawer.


Be Flexible (and Creative) With Your Plans

When it comes to planning for your wedding, there are a lot of expenses that will begin to add up quickly. Oftentimes you’ll have to eliminate things in order to fit things in your budget. If you’re not wanting to give up certain things, there are a few hacks for getting more out of your budget, like:

  • Holding your ceremony midday or mid-week. Venues often offer discounts for these non-peak times.
  • Just like the time of day or week, you can also choose a wedding date that falls in the off-season. Getting married in months outside of August to November will save you tons. Same vendors, lower costs.
  • Say no to vendor packages. As tempting as the convenience of it all is, convenience isn’t always cost-effective. 
  • Get friends and family involved. Especially the creative ones! Rather than paying for set-up, see if you can get your family to do it.
  • Get your own hands dirty! Working on a budget lets you turn your wedding into your own. But remember to only DIY the things you know how to do (near) perfectly.


Borrow Money Wisely

Sometimes saving money and cutting costs still doesn’t get the total bill down to an amount you can pay for right away. That’s ok! A lot of couples receive financial aid for their weddings. The secret is doing it smartly. We recommend:

  • Asking your friends and family for help. Consider asking for financial assistance as your wedding gift. If you need a more generous amount, even for a loan and offer set times you will have them paid back by.
  • Leveraging your credit cards for the larger expenses. But remember to never use your card for more than what you will be able to pay off!


Calling or Visiting a Chambers Bank. We want to be a part of your love story by making sure you can afford your big day. We have several options for you, from financial planning assistance to credit cards and loans.

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